BEIJING,
Feb. 12,
2024 /PRNewswire/ -- TuanChe Limited ("TuanChe"
or the "Company") (NASDAQ: TC), a leading integrated automotive
marketplace in China, today
announced that it has received a notification letter (the
"Compliance Notice") from the Listing Qualifications Department of
the Nasdaq Stock Market Inc. ("Nasdaq") dated February 9,
2024, informing the Company that it has regained compliance with
the Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price
Requirement").
As previously announced, TuanChe received a
notification letter (the "Deficiency Notice") from the Nasdaq
dated February 17, 2023 indicating that the closing bid
price for the Company's American depositary shares (the "ADSs") was
below the minimum bid price of $1.00 required for
continued listing under the Nasdaq Listing Rule 5550(a)(2) for
30 consecutive business days. According to the Deficiency Notice,
if at any time during the 180-day compliance period, the
closing bid price of the Company's ADSs is at
least $1.00 for a minimum of ten consecutive business
days, the Nasdaq will provide the Company written confirmation of
compliance and the matter will be closed. According to the
Compliance Notice, the closing bid price of the Company's ADSs has
been at $1.00 per ADS or greater for
10 consecutive business days from January 26
through February 8, 2024. Accordingly, the Company has
regained compliance with the Minimum Bid Price Requirement, and the
matter is closed.
About TuanChe
Founded in 2010, TuanChe Limited (NASDAQ: TC) is a
leading integrated automotive marketplace in China. TuanChe
offers services to connect automotive consumers with various
industry players such as automakers, dealers and other automotive
service providers. TuanChe provides automotive marketing and
transaction related services by integrating its online platforms
with offline sales events. Through its integrated marketing
solutions, TuanChe turns individual and isolated automobile
purchase transactions into large-scale collective purchase
activities by creating an interactive many-to-many environment.
Furthermore, leveraging its proprietary data analytics and advanced
digital marketing system, TuanChe's online marketing service
platform helps industry customers increase the efficiency and
effectiveness of their advertising placements.
For more information, please
contact ir@tuanche.com.
Safe Harbor Statement
This announcement contains forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, without limitation, the
Company's business plans and development and business outlook,
which can be identified by terminology such as "may," "will,"
"expect," "anticipate," "aim," "estimate," "intend," "plan,"
"believe," "potential," "continue," "is/are likely to" or other
similar expressions. Such statements are based upon management's
current expectations and current market and operating conditions,
and relate to events that involve known or unknown risks,
uncertainties and other factors, all of which are difficult to
predict and many of which are beyond the Company's control. Further
information regarding these and other risks, uncertainties or
factors is included in the Company's filings with the U.S.
Securities and Exchange Commission. The Company does not undertake
any obligation to update any forward-looking statement as a result
of new information, future events or otherwise, except as required
under law.
For investor and media inquiries, please
contact:
TuanChe Limited
Investor
Relations
Tel: +86 (10)
6397-6232
Email:
ir@tuanche.com
Piacente Financial
Communications
Brandi
Piacente
Tel: +1 (212)
481-2050
Email:
tuanche@tpg-ir.com
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SOURCE TuanChe Limited